Faber: “Only one way to short central banks and that is to buy gold”. Marc Faber warned at the weekend that 2015 may be the year that investors will lose confidence in central banks and that investors will “suddenly realise what a scam that central banking is”. He is long gold and recently bought more […]
Replacement for the near-century-old London gold fix will start in March London gold fix to Shanghai gold fix – still not transparent Stealth run on the London bullion market continuing? Oil surges 11%; deflation deepening Increasing signs of a slowdown of the U.S. economy is supporting gold The overhaul of the gold fixing benchmark formally […]
In January, gold surged 8 per cent in dollar terms, 11 per cent in pound terms and a very large 16 per cent in euro terms. January’s 8.4% gain for gold in dollar terms was the best month in terms of price gains in three years. Thus once again, gold bullion performed its role as […]
The Greek stock market is down 36% year to date; the risk of global contagion in the event of a Greek exit is very real. Ordinarily such a crisis would require a massive coordinated effort from global stakeholders, perhaps directed by the IMF or some other pan-national financial body. But not in this case; the […]
EU foreign ministers are meeting in Brussels today to discuss imposing further sanctions on Russia following an upsurge in fighting in east Ukraine.
Cyber Attacks Growing In Frequency – Entire Western Financial System Is Vulnerable The threat posed by cyber war to our increasingly complicated, technologically dependent and vulnerable financial institutions, markets, banks and indeed deposits becomes more clear by the day. British and US agents will carry out a mock cyber attack or ‘cyber war games’ on […]
UPDATE: Since we published our blog this morning, the Dutch central bank has denied that it added to its gold reserves in December. De Nederlandsche Bank, the Dutch central bank has denied reports in Reuters, Bloomberg and picked up by GoldCore, that the bank had increased its gold holdings for the first time in sixteen […]
The crushing victory of the Greek opposition party Syriza in yesterday’s Greek elections has added to jitters in already jittery financial and foreign exchange markets. The euro tumbled and gold in euros surged to its highest level since April 2013, at €1,167.94/oz as markets opened in Asia. The euro has since stablised but remains near […]
You may have heard the news, the European Central Bank have started up the printing press. They are soon to print upwards of €60 Billion a month. The crowds of economic pundits have collectively cheered. Ireland stands to enjoy significant near term benefits, but at what cost? They speak of lower government borrowing costs for […]
Stocks, bonds and precious metals surged yesterday as markets cheered the latest wave of money printing on a grand scale. Gold surged 3 per cent in euro terms (see chart below) after Mario Draghi in the ECB announced a massive quantitative easing or QE programme of over EUR 1 trillion from March 2015 to September […]